TPB releases guidance on responsible AI use for tax practitioners
Tax Practitioners Board
The Tax Practitioners Board (TPB) has released a new Guidance Statement to help registered tax practitioners understand how their existing obligations under the Code of Professional Conduct (Code) apply when using artificial intelligence (AI) in their practice.
The Guidance Statement explains how existing professional obligations under the Code apply when AI tools are used, and highlights key considerations including competence, reasonable care, confidentiality, record-keeping, professional judgment, and appropriate supervision and control.
TPB Chair Peter de Cure AM said the TPB recognises the growing role of AI in the tax profession and is committed to supporting its responsible adoption. ‘AI has the potential to increase productivity, drive efficiencies and enhance client service across the tax profession when used appropriately,’ Mr de Cure said. ‘We want to support tax practitioners in embracing the benefits of AI with confidence, while continuing to meet the high professional and ethical standards set out in the Code.’
The Guidance Statement reinforces that AI is a tool to support, not replace, professional judgement. Tax practitioners remain accountable for the services they provide, including reviewing AI-generated outputs and exercising professional judgment to ensure they comply with their professional obligations.
To support the release of the Guidance Statement, the TPB will host a webinar, AI and the Code: What every tax practitioner needs to know. Tax practitioners are encouraged to register for the webinar, which will be held on Tuesday, 25 August at AEST 12 pm.
About the Tax Practitioners Board
The TPB regulates tax practitioners and supports confidence in the tax profession and the tax system. The TPB aims to assure the community that tax practitioners meet appropriate standards of professional and ethical conduct. Follow us on LinkedIn and Facebook.